How To Recruit And Retain The Best Talent

In multinational business, leadership development never ends. Global organizations require international executives, cross-cultural communication skills, management knowledge, and fluency in various languages. The ability to inspire and lead diverse teams – unifying people in different time zones, who speak different native languages, come from different cultures, who often have different objectives and report into different hierarchies – is a prerequisite. Globally savvy executives are in high demand, and major multinationals and their recruiters are in fierce competition to identify and hire them. At the same time, the newest entrants in the international workforce – the millennial generation – expect challenging and diverse career paths. They want to move from company to company, country to country, and they look forward to several career transitions. For many millennials, the concept of a “job for life” is a quaint anachronism, like opting to using a typewriter instead of a computer. Given these labor market trends, how do we recruit and retain the best and brightest? The Renault-Nissan Alliance has three Golden Rules: Hire the best, and challenge them, Leverage your partners to ensure a broad and deep talent pool, Most important, shatter the glass ceiling. In the late 20th century, observers sometimes described the working environment in the auto industry as a “velvet coffin”: Once executives reached a certain status and salary, they rarely considered leaving. Ultimately, this tended to create stagnation – a lack of innovation and competition that stifled the industry’s progress and made it a less appealing for ambitious professionals.

Reference: https://www.weforum.org/agenda/2015/02/how-to-recruit-and-retain-the-best-talent/